Related provisions for CONC 5.4.1

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CONC 4.5.1RRP
(1) CONC 4.5.2 G applies to a firm with respect to consumer credit lending.(2) CONC 4.5.3 R and CONC 4.5.4 R apply to a firm with respect to credit broking in relation to:(a) regulated credit agreements; and(b) regulated consumer hire agreements.(3) CONC 4.5.3 R and CONC 4.5.4 R also apply to a firm carrying on the activities specified in article 36A(1)(a) or(c) of the Regulated Activities Order in relation to:(a) credit agreements that would be regulated credit agreements but
PERG 2.4.9GRP
4Whether a credit agreement or consumer hire agreement is subject to the law of a country outside the United Kingdom is immaterial to whether an activity is credit broking, see PERG 2.7.7E G.
COND 1.1A.5AGRP
(1) 2The FCAthreshold conditions apply to a person that carries on, or seeks to carry on, only relevant credit activities (within paragraph 2G of Schedule 6 to the Act) and which therefore has, or is applying for, limited permission with a number of modifications (see article 10(19) of the Regulated Activities Amendment Order). Regulated activities a person carries on in relation to which sections 20(1) and (1A) and 23(1A) of the Act do not apply as a result of section 39(1D)
SUP 12.5.2GRP
(1) Regulations 3(1) 8and (2) of the Appointed Representatives Regulations make it a requirement that the contract between the firm and the appointed representative (unless it prohibits the appointed representative from representing other counterparties) contains a provision enabling the firm to:488(a) impose such a prohibition; or(b) impose restrictions as to the other counterparties which the appointed representative may represent, or as to the types of investment in relation
CONC 3.1.3RRP
This chapter, unless a rule in CONC 3 specifies differently, applies to:(1) a communication with a customer in relation to a credit agreement;(2) the communication or approval for communication of a financial promotion in relation to a credit agreement;(3) a communication with a customer in relation to credit broking;(4) the communication or approval for communication of a financial promotion in relation to credit broking;(5) a communication with a borrower or a prospective borrower
PERG 8.36.3GRP

Table Controlled activities

1.

Accepting deposits

2.

Effecting and carrying out contracts of insurance

3.

Dealing in securities and contractually based investments

4.

Arranging deals in investments

4A.4

Operating a multilateral trading facility410

104B.

Credit broking

104C.

Operating an electronic system in relation to lending

5.

Managing investments10

105A.

Debt adjusting

105B.

Debt counselling

6.

Safeguarding and administering investments

7.

Advising on investments

8.

Advising on syndicate participation at Lloyd's

9.

Providing funeral plan contracts

10.

Providing qualifying credit

11.3

3

Arranging qualifying credit etc

12.3

3

Advising on qualifying credit etc10

1012A.

Providing relevant consumer credit

1012B.

Providing consumer hire

313.

Providing a home reversion plan

314.

Arranging a home reversion plan

315.

Advising on a home reversion plan

316.

Providing a home purchase plan

317.

Arranging a home purchase plan

318.

Advising on a home purchase plan

718A.

Providing a regulated sale and rent back agreement

718B.

Arranging a regulated sale and rent back agreement

718C.

Advising on a regulated sale and rent back agreement

19.3

3

Agreeing to do anything in 3 to 18C7 above

37
CONC 4.1.2RRP
CONC 4.1.4 R applies to a firm with respect to credit broking, including where the firm provides a quotation acting on behalf of a customer.
GEN 4.3.8GRP
8A credit firm which carries on the activity of entering into a regulated credit agreement as lender , in respect of an agreement 9to which articles 5 and 6 of the Consumer Credit Directive apply is under an obligation to disclose pre-contract information in the form and to the extent required by the Consumer Credit (Disclosure of Information) Regulations 2010 (SI 2010/1013)9. Firms which carry on credit broking may take on the same obligation. A credit firm must also ensure specified
CONC 3.3.2RRP
A firm must ensure that a communication or a financial promotion:(1) uses plain and intelligible language;(2) is easily legible (or, in the case of any information given orally, clearly audible);(3) specifies the name of the person making the communication or communicating the financial promotion or the person on whose behalf the financial promotion is made; and(4) in the case of a communication or financial promotion in relation to credit broking, indicates to the customer the
SYSC 7.1.9RRP
A firm must base credit-granting on sound and well-defined criteria and clearly establish the process for approving, amending, renewing, and re-financing credits.15
PERG 8.12.11AGRP
6This exemption does not apply to any financial promotion that is made with a view to, or for the purpose of, an introduction to a person who carries on the controlled activities of:(1) credit broking;(2) operating an electronic system in relation to lending; or(3) agreeing to carry on the above activities.
SUP 16.12.29CRRP

47The applicable data items, reporting frequencies and submission deadlines referred to in SUP 16.12.4 R are set out in the table below. Reporting frequencies are calculated from a firm'saccounting reference date, unless indicated otherwise. The due dates are the last day of the periods given in the table below following the relevant reporting frequency period.

Description of data item

Data item (note 1)

Frequency

Submission deadline

Annual revenue from credit-related regulated activities up to and including £5 million (note 2)

Annual revenue from credit-related regulated activities over £5 million

Financial data (note 3)

CCR001

Annually

Half yearly

30 business days

Volumes (note 4)

CCR002

Annually

Half yearly

30 business days

Lenders (note 5)

CCR003

Annually

Half yearly

30 business days

Debt management (note 6)

CCR004

Annually

Half yearly

30 business days

Client Money & Assets (note 7)

CCR005

Annually

Half yearly

30 business days

Debt collection (note 8)

CCR006

Annually

Half yearly

30 business days

Key data (note 9)

CCR007

Annually

Annually

30 business days

Note 1

When submitting the required data item, a firm must use the format of the data item set out in SUP 16 Annex 38A50. Guidance notes for the completion of the data items is set out in SUP 16 Annex 38B50.

Note 2

References to revenue in SUP 16.12.29C R in relation to any firm do not include the amount of any repayment of any credit provided by that firm as lender.

Note 3

(a) Subject to (b) to (d) below, this data item applies to all credit firms.

(b) This data item does not apply to a firm if the only credit-related regulated activity for which it has permission is operating an electronic system in relation to lending.

(c) This data item does not apply to a firm required to submit a Balance Sheet, Income Statement or Capital Adequacy data item from a RAG other than RAG 12.

(d) This data item does not apply to a firm with limited permission unless it is a not-for-profit debt advice body and at any point in the last 12 months has held £1 million or more in client money or as the case may be, projects that it will hold £1million or more in client money in the next 12 months.

Note 4

(a) Subject to (b) below, this data item applies to all credit firms.

(b) This data item does not apply to a firm with limited permission unless it is a not-for-profit debt advice body and at any point in the last 12 months has held £1 million or more in client money or as the case may be, projects that it will hold £1million or more in client money in the next 12 months.

Note 5

This data item applies to all firms with permission for entering into a regulated credit agreement as lender or exercising, or having the right to exercise, the lender's rights and duties under a regulated credit agreement.

Note 6

(a) Subject to (b) to (d) below, this data item applies to a debt management firm and to a not-for-profit debt advice body that at any point in the last 12 months has held £1 million or more in client money or, as the case may be, projects that it will hold £1million or more in client money in the next 12 months.

(b) This data item does not apply to a firm with limited permission other than a not-for-profit debt advice body within (a).

(c) This data item does not apply to a firm required to submit a Capital Adequacy data item from a RAG other than RAG 12, or under SUP 16.13, unless (d) applies

(d) Where a firm is required to submit a Capital Adequacy data item from a RAG other than RAG 12 or under SUP 16.13 but the firm's highest capital requirement derives from its activity under RAG 12, the firm should submit both CCR004 and the Capital Adequacy data item required from the RAG other than RAG 12 or SUP 16.13.

Note 7

This data item applies to a CASS debt management firm.

Note 8

This data item applies to a firm with permission to carry on debt collecting or operating an electronic system in relation to lending.

note 9

(a) Subject to (b) and (c) below, this data item applies to a firm that has limited permission.

(b) This data item does not apply to an authorised professional firm that is a CASS debt management firm. Such a firm is instead required to submit the other data items in SUP 16.12.29C R as appropriate.

(c) This data item does not apply to a not-for-profit debt advice body that at any point in the last 12 months has held £1 million or more in client money or, as the case may be, projects that it will hold £1million or more in client money in the next 12 months. Such a not-for-profit debt advice body is instead required to submit data items CCR001, CCR002, CCR004 and CCR005.
PERG 2.8.6CGRP
9The following activities are excluded from the regulated activity of credit broking:Introducing by individuals in the course of canvassing off trade premises(1) Activities carried on by an individual by canvassing off trade premises:(a) a restricted-use credit agreement to finance a transaction between the lender or a member of the lender's group and the borrower; or(b) a regulated consumer hire agreement;are excluded from credit broking, as long as the individual does not carry